Palmerbet Bonus Bet – $500 First Deposit Bonus

Great bonus amount, $500 is right up there
Excellent racing bookmaker
100% Australian owned

Cons

Higher turnover requirements than competition
May be limited to racing markets

Summary

Palmerbet is a great option for bettors who want to punt with a 100% Australian owed bookie. Their deposit bonus is generous but they do have slightly harsher turnover requirements than the competition. If you are looking for an excellent, fast, trustworthy bookie - look no further than Palmerbet.

Bonus Bet Value9.5

Turnover Requirements6.5

Bonus Flexibility (Splitting Bets, Markets etc)8

Palmerbet is a 100% Australian owned and operated bookmaker, they operate out of the Canterbury Racecourse and have a rich history of bookmaking on the Rails at Sydney Metropolitan races. If you want a more holistic review of Palmerbet, please click here to go to our Palmerbet review.

We’ve had a closer look at their sign up bonus offer, and want to provide you with the most comprehensive information page on what to expect when signing up for a Palmerbet bonus bet.

This is a no-nonsense, objective look at what they have to offer. We’ll be going over who the bonus bet is restricted to, turn over requirements, and any other terms and conditions attached to this Palmerbet bonus bet.

If you don’t have time to read the entire spiel (I’ve tried to be very thorough for those who want it), check out the table below which has the key points. Scroll down further for more information.

Palmerbet Bonus Bet Summary

Bonus Bet Amount

$500

Bonus Bet Qualifier

100% First Deposit Bonus

Turnover Requirements

Must be turned over x2 on win bets on odds at or greater than $1.80, within 90 days of the bonus bet being received.

Bonus Bet Restrictions

NSW, SA, WA, and VIC

Bonus Betting Requirements

Bonus bets can’t be used on multi-bets or Exotic bets

Market Restrictions

Palmerbet may restrict the use of the bonus bet to racing markets only

Bonus Bet Payout

Winnings not including stake

The offer

The Palmerbet bonus offers a $500 first deposit match bonus bet to eligible customers who sign up with Palmerbet and make a deposit.

Your first deposit will be matched 100% up to $500 when you create an account at Palmerbet. So if your first deposit is $500 when you create your Palmerbet account, you will receive $500 in bonus bets. Similarly if you deposit say $250, you will receive $250.

What’s the catch?

We’ve read through all of the terms and conditions and condensed all of the important bits into these 8 points. I recommend you have a very quick read of them so you know what you will be getting into!

The important bits

First and foremost – Bookmakers are not allowed to offer sign up bonuses to residents of NSW, WA, SA, and Vic. Unfortunately this is the case for all bookmaker sign up bonuses. This however does not preclude these residents from signing up with the bookie and receiving weekly promotions, loyalty Palmerbet bonus bets, and more.

Palmerbet does not mention how long it takes for your bonus bet to be credited, we assume this to be immediately.

You must use your bonus bet within 90 days from the time it is credited to your account. If you don’t use it, it will be void and removed from your account.

Palmerbet mentioned they ‘reserve the right’ to restrict the use of bonus best to racing products only. But appears to not be a hard and fast rule though.

You can’t use your bonus bet on multi-bets or exotic bets.

If you win with your bonus bet, you will receive ONLY the winnings and not the stake back. For example, if you place a $50 bonus bet on a selection paying $3, you will receive only $100 in winnings (the original $50 stake is not returned to you as it would if you were betting with real money).

Turnover Requirements

You must turn over your bet 2x at the value of $1.80 or more to be able to withdraw your bonus bet winnings.

Conclusion

The Palmerbet bonus is OK. The turn over requirements are a bit higher than normal – and the market restrictions have the potential to seriously limit your ability to bet on sports.

Your matched deposit bonus bet will be credited to your account immediately, if for any reason it is not please contact Palmerbet support via phone, live chat, or email.

Please note that this matched bet bonus of $500* is not available to residents of SA, NSW, VIC, and WA due to gaming regulations – however, punters from these states are more than welcome to sign up to Palmerbet and take advantage of their generous weekly betting promotions, please read all terms and conditions before betting.

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Note: unfortunately due to recent changes to gambling regulations, NSW residents are now ineligible to receive any money back offers from Australian bookmakers, please ensure you read all terms and conditions on each bookmakers website.